Money Metals Review – This Isn’t What I Expected

By Tim Schmidt - UPDATED: December 1, 2024

Disclaimer: Some or all of the companies listed on this page provide compensation to us. This is how we maintain our free service for consumers that visit us. Compensation & hard research determine where and how companies appear below.

If you’re like me, you’ve probably considered diversifying your investment portfolio with precious metals. But with so many companies out there, it’s tough to know who to trust. That’s why I’m delving into a comprehensive review of Money Metals, a leading dealer in the precious metals industry offering some of the best prices.

In this review, we’ll explore the ins and outs of Money Metals, from its product offerings to customer service. We’ll also touch on its reputation in the market to see if it’s the golden opportunity you’ve been looking for. So, buckle up as we embark on this journey to find out if Money Metals is indeed a worthy contender in the world of precious metals investment.

>> IF YOU ARE SERIOUS ABOUT INVESTING IN GOLD:

I urge you to dive right into my report on the 10 best firms to buy gold from.

I’ve spent over a decade in this space and one stands out as the premier gold investment firm.

See which one it was, and if Money Metals reviews were good enough for them to make my list.  Otherwise, carry on for my full Money Metals consumer report.

Overview of Money Metals Exchange

Introduction to the Company

Money Metals Exchange is a reputable online precious metals dealer that offers a wide range of gold, silver, platinum, and palladium products to investors and collectors. With a strong commitment to customer satisfaction, the company provides a secure and transparent platform for buying and selling precious metals. Whether you’re looking to buy gold coins, silver bars, or other bullion items, Money Metals Exchange has you covered with a broad selection of high-quality products.

History and Background

Founded in 2010, Money Metals Exchange has quickly established itself as a trusted name in the precious metals industry. The company’s mission is to provide customers with the best possible prices, excellent customer service, and a broad range of high-quality products. With a team of experienced professionals, Money Metals Exchange has built a reputation for its expertise and integrity. Over the years, they have consistently delivered on their promise of competitive pricing and transparent transactions, making them a go-to choice for many investors and collectors.

Legitimacy of Money Metals: Evaluating Scam Claims

As we navigate the waters of investment and finance, trust and reliability in a service provider are paramount, so let's delve into Money Metals' legitimacy. To get a grasp on their reputation, we'll look into customer feedback and complaints, assessing their nature, how the company has dealt with them, and detecting any recurring patterns.

Customer Feedback and Complaints: Good Customer Service

Looking at the customer complaints and feedback can offer a treasure of insight about a company's practices. In the case of Money Metals, their A+ rating with the BBB is a good starting point, suggesting their willingness to address and rectify official complaints.

Upon exploring further, the distribution of the 38 complaints is quite diverse. Fourteen were product or service-related, twelve involved delivery issues, seven dealt with billing, four pinpointed advertising problems, and one had warranty grievances. Let's dissect some of these complaints to identify any trends.

Issues with Asset Liquidation

One recent complaint lodged on June 29, 2022, revolved around a customer's asset liquidation following a missed deposit in her savings plan. Essentially, Money Metals liquidated her account, resulting in a $300 payout, a significant loss compared to her invested $600. The company defended this by attributing the shortfall to fees from a failed second order and market losses. Despite the justification, losing half an investment due to fees seems quite high.

Reports of Undelivered Orders

In May 2022, an undelivered order complaint highlighted some of Money Metals' stringent policies. Apparently, the client reported a lost package outside the stipulated two-day company's reporting window, making the investigation arduous. This seemed a little unfair to the customer, but it underscores the need for clients to keep an eye on their deliveries closely.

Complaints About Product Quality

Service quality was the bone of contention in some cases, such as a complaint in May 2022, about scuffed and marked coins. The customer dissatisfaction was, however, linked to a misunderstanding of the nature of commodity coins they had purchased — affordable but aesthetically imperfect precious metal offerings. Money Metals offered to replace any coins impacting value, but a disagreement over the quality assessment left this issue in the unresolved pile.

Fulfillment of Contractual Duties

A review from April 2022 raised questions about Money Metals' online transaction process. A browsing customer who reached the final purchase page but did not input her payment details received a collection demand. Money Metals justified it by the customer's-signed pre-order contract, highlighting the need for clients to be absolutely certain before clicking 'Order.' Nonetheless, it still seems a bit harsh requiring payment for an order without completing the purchase.

Jumping in to invest in any company, especially in the field of precious metals, takes careful consideration, and understanding how a company handles complaints should be a part of that decision-making process. As we've seen, Money Metals has had its fair share of complaints, yet it maintains its legitimacy by actively addressing them. The company's policies might seem stringent to some, but they underscore the customer's responsibility in these transactions. It's imperative, then, to be vigilant and thoroughly understand the terms of agreements before proceeding with transactions.

Buying Precious Metals from Money Metals

Purchasing Process

Buying precious metals from Money Metals Exchange is a straightforward and secure process. Here’s a step-by-step guide to help you get started:

1. Browse our online catalog: Explore our extensive selection of gold, silver, platinum, and palladium products, including coins, bars, rounds, and other bullion items. The website is user-friendly, making it easy to find exactly what you’re looking for.
2. Create an account: Register for a free account on our website to access our online shopping platform. This will allow you to track your orders and manage your purchases efficiently.
3. Add products to your cart: Select the products you wish to purchase and add them to your shopping cart. You can review your selections at any time before finalizing your order.
4. Review your order: Carefully review your order to ensure that all details are accurate. Double-check the quantities, prices, and shipping information to avoid any mistakes.
5. Payment options: Choose from a variety of payment options, including credit cards, bank wires, and money orders. Money Metals Exchange offers flexible payment methods to suit your preferences.
6. Shipping instructions: Follow our shipping instructions to ensure that your order is delivered safely and securely. We provide detailed guidelines to help you understand the shipping process and what to expect.
7. Receive your order: Once your payment is processed, your order will be shipped promptly and securely. You can track your shipment online and rest assured that your precious metals will arrive in excellent condition.

At Money Metals Exchange, we pride ourselves on our transparent pricing, competitive pricing, and excellent customer service. Our goal is to provide you with the best possible experience when buying precious metals online. Whether you’re a seasoned investor or new to the world of precious metals, Money Metals Exchange offers a reliable and efficient way to diversify your portfolio with gold, silver, platinum, and palladium.

Exploring the Advantages and Disadvantages of Precious Metals

After assessing Money Metal's legitimacy and how they manage complaints, let's delve into understanding the advantages and disadvantages that come with choosing their services. This balanced analysis will give us a clearer picture of what it means to trust your financial future with Money Metals.

Pros of Investing with Money Metals: Competitive Pricing

Money Metals offers a wide range of precious metals that cater to different investment needs. What I appreciate is the availability of an assortment of products, such as American Eagles, Canadian Maple Leafs, and South African Krugerrands, not forgetting the wide variety of bars and rounds.

The functionality of their website is another plus. The product information is quite detailed, and the process to buy or sell metals is straightforward. They really live up to their commitment of making precious metal owning simple and efficient.

Their customer service, too, deserves commendation. From my experience, and after reading many reviews, I found them quite responsive and willing to help. They've also received an A+ rating from the Better Business Bureau (BBB) based on transparency, trust, and customer satisfaction, which is remarkable.

Cons of Investing with Money Metals

While the advantages are appealing, it’s worth noting some of the downsides you might encounter with Money Metals.

Delivery times have been a sticking point for some customers. Though Money Metals clarifies it in their policy, it takes around 7-10 business days for your order to get shipped. Some investors, especially new to the precious metals market, may not be comfortable with waiting for this long.

Additionally, while the company has a good reputation overall, there are a few complaints regarding their stringent policies. For instance, they do not grant returns on bullion items, which might be a disadvantage in a volatile market situation. The actual amount consumers receive for their metals often falls below the spot price, leading to dissatisfaction and financial losses reported by buyers.

Lastly, their costs might be higher than some competitors. While the prices are generally aligned with the market, premiums on some coins and bars are noticeably higher.

So there you have it, a comprehensive rundown of the strengths and weaknesses of investing with Money Metals. Before committing any substantial amount to any entity, it’s crucial to weigh these factors and perhaps seek financial consultation for a complete understanding.

Other Gold Companies With Similar Products:

• Hero Bullion 
• Rosland Capital Gold
• 7k Metals

Conclusion and Final Review

After taking a deep dive into Money Metals, I’ve found it to be a legitimate platform for those looking to diversify their investment portfolio with precious metals. They’ve got a good range of products, including gold and silver, which offer various investment opportunities in forms such as bars, coins, and jewelry, a user-friendly website, and a responsive customer service team. It’s no wonder they’ve got an A+ rating from the BBB!

Sure, they’ve had a few hiccups with longer delivery times and some customers have found their return policies a bit stringent. Plus, their prices might be a tad higher than some competitors. But remember, no company is perfect and they seem to be actively addressing any issues that crop up.

Bottom line? If you’re considering investing in precious metals, Money Metals could be a solid option. Just make sure you do your homework, consider all the pros and cons, and seek financial advice before making any significant investments. Happy investing!

What services does Money Metals offer?

Money Metals provides an extensive range of precious metals as investment assets. They have a user-friendly website, offering exceptional customer service and ensuring a smooth purchase process for their customers. Customers who buy silver often discuss their experiences with pricing, customer service, and the perceived value when selling silver back, highlighting the complexities and potential drawbacks of transactions with online precious metals dealers.

Is Money Metals a legitimate business?

Absolutely. Money Metals maintains a positive business standing and a well-earned reputability in the market, backed by an A+ BBB rating. While there are complaints, the company shows a proactive approach in dealing with and resolving these.

What are the benefits of investing with Money Metals?

Investing with Money Metals grants access to a wide variety of precious metals, an easy-to-use website interface, and responsive customer service available for help.

What are the cons of investing with Money Metals?

Some downsides of involvement with Money Metals include longer delivery times, stringent return policies, and potentially higher costs when compared to competing companies.

Should financial advice be sought before investing with Money Metals?

Yes, considering the substantial investment involved, it is advisable to seek professional financial advice before investing to ensure it aligns with your portfolio diversification strategy.